Russia and Myanmar to establish a trade mission in Yangon


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September 27th, 2017 – Fort Russ News –

– Agencies – – by Samer Hussein –

Russia and Myanmar have signed an agreement on establishing a Russian trade mission in Yangon, Russian Economic Development Minister Maksim Oreshkin said, following the second meeting of the intergovernmental commission that was held on Wednesday.

The mission aims to expand trade and economic ties, as well as help organize international exhibitions on the territory of both states.

Back in August, Russia supplied Myanmar with is first batch of Kamaz trucks. Another discussion, regarding cooperation in sectors of agriculture and food production, is also underway.

According to the data provided by the Ministry, trade between the countries amounted to $138.9 million only in the first seven months of 2017, thus showing a 61.2% year-on-year increase. 

Meanwhile, Russia’s exports went up by 50.6% and reached $116.3 million, while imports went up by 152.6% and equaled $22.6 million. 

Already in 2016, the trade turnover between Russia and Myanmar doubled to $258 million.

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